Oilers were in play on Thursday as Northcote Energy Ltd (LON:NCT) shares zoomed up over 10% as it revealed details of the work programme at the Shoats Creek field in Louisiana, but junior markets were heading south.
The work is focused on growing production and adding high-grade potential locations.
Included is the completion of three new producing wells, which will be drilled to a targeted depth of 5,500 feet to test multiple Frio sands at around 5,000 feet and re-entry of and installation of equipment to support production from one existing Cockfield well.
Drilling of the Lutcher Moore 21 well (LM 21) has been set for on or around May 16, 2016.
Shares in the firm, which yesterday raised £450,000 through a placing which could further its potential participation in activities in Mexico and Indonesia, added over 10% to 0.05p.
In the junior markets, FTSE AIM 100 was down 0.06% to 3,333, while FTSE AIM All share also lost 0.06% at 709.870.
Bigger cousin FTSE100 lost over 63 points at 6,135,with High Street darling Next (LON:NEXT) the biggest loser after it warned of the toughest trading since the financial crash in its annual results statement.
Also down was FTSE 250 Premier Foods plc (LON:PFD) as it fell back down from soaring yesterday as it emerged the Bisto to Mr Kipling group had rejected two approaches from US food giant McCormick & Company and instead agreed a co-operation deal with noodle giant Nissin.
LGO Energy plc (LON:LGO) shares were up again as it expects to earn 10% more per barrel on the oil it produces in Trinidad after lower royalty rates were introduced by state oil company Petrotrin. Shares puffed out 5.88% to 0.27p.
On the other side of the coin, beleaguered Kurdistan focused Gulf Keystone Petroleum (LON:GKP) lost 11.47% to 6.02p. It was downgraded to sell by Canaccord two days ago.
Meanwhile, on the winning front today, Venn Life Science Holdings PLC (LON:VENN) added 8% to stand at 20.25p as it cheered investors by forecasting better-than-expected annual results after winning bigger contracts.
Venn, which provides drug development, clinical trial management and resourcing services to drug, biotech and medical device clients, now expects revenues for the year to the end of December to be significantly more than double the previous year's €4.9mln and to top market expectations by at least 15%.
Security specialist Westminster Group (LON:WSG) added 3.88% to 13.375p as it told investors its keenly anticipated ferry service in Sierra Leone should launch next month.
The flagship vessel, the Sierra Queen, underwent repairs to a propeller shaft at the end of last year but all appears now to be ship-shape and Bristol fashion, as it has performed well in sea trials that involved various trial crossings and manoeuvres.